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SGE and SRO NFA Successfully Signed the MOU

Date: 2020-11-24

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Shanghai Gold Exchange (“SGE”) and Self-Regulatory Organization National Finance Association (“SRO NFA”) successfully held the MOU signing ceremony in Shanghai and Moscow in the form of “China-Russia On Site + Live Streaming” on 24th November 2020. The ceremony was witnessed by Mr. WANG Zhenying, President of Shanghai Gold Exchange, Mr. Andrey Lipin, Director of the International Cooperation Department of Bank of Russia, and some members representatives of SGE and SRO NFA. Mr. Vasily Zablotsky, Chairman of National Financial Association, Mr.MA Lin, Vice President of Shanghai Gold Exchange, signed the MOU as the representatives of the two parties. Representatives from nearly 100 China and Russia gold market participants attended the signing ceremony through webinar.


President WANG Zhenying said, in the face of the increasing  domestic and external challenges, SGE sticks to the opening up strategy and strengthen international cooperation to establish a new development structure with domestic gold market circulation playing a leading role together with domestic and international market dual circulation as supplement. Enhancing the cooperation with SRO NFA is the measure of SGE, bearing with the pragmatic cooperation principle, to promote the Sino-Russian comprehensive strategic partnership in the new era. After MOU is signed, SGE and SRO NFA will strive to explore and complete the new field of Sino-Russian gold market cooperation, in addition to promote the connection and development of both markets.

Mr. Andrey Lipin, Director of the International Cooperation Department of Bank of Russia, emphasized that the cooperation between China and Russia is an important step to establish a new pattern of all-dimensional, high-level and multi-field cooperation. Bank of Russia will continue to support the win-win cooperation between China and Russia gold markets, and accelerate the complementary development of the two markets.

Mr. Vasily Zablotsky, Chairman of National Financial Association said, the cooperation of SGE and SRO NFA will deepen the understanding of each other, improve the resource sharing between two countries. National Financial Association will play the role of market organizer, and facilitate the Russian institutions to access China gold market.

Mr. LI Baoquan,General Manager of the Precious Metals Department of Industrial and Commercial Bank of China, and Nikita Knyazev, Director of Moscow Exchange which is also a member of NFA Precious Metals Committee, mentioned that the cooperation will build up Sino-Russian cooperation platform in gold markets which is a new development opportunity for markets connectivity under the circumstance of international financial market’s turbulence. The two markets will take advantage of this opportunity to enhance the integrated market and bring the new energy for Sino-Russian gold market cooperation.

According to the contents of MOU, SGE and SRO NFA will cooperate on information exchange, joint marketing, investor education, etc, to propel the connection and win-win development of Sino-Russian precious metals market.

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